CRE's Influencers in . . . HEALTHCARE REAL ESTATE
The professionals and companies that have helped to shape the healthcare real estate industry, and continue to impact the business
The healthcare industry is undergoing tremendous change right now. Naturally, so is the healthcare real estate sector. Everything from the way space is used and designed, to where it’s located or how it’s bought and sold, is in a state of flux.
Indeed, the changes underway in the sector are significant and the wrong move by a company could mean the difference between thriving or merely surviving. Policy changes in the government have had a seriously effect on certain asset classes like skilled nursing, while other legislative initiatives, such as the Affordable Care Act, have given new life to medical office buildings.
Healthcare dynamics are also driving such trends as the decline of hospital development and the subsequent increase in outpatient facilities, many of which are locating in retail settings to the delight of the retail landlords. We are even seeing situations in which the adaptive reuse of retail space that has gone dark attracts a medical tenant.
At the same time, the size of the healthcare economy cannot be overstated. Currently the sector accounts for 17.9% of US GDP, according to JLL, and more growth is expected. Perhaps even more significantly, healthcare employs an enormous number of people. Today 12.2% of the nation’s workforce is in healthcare and another 18% increase is expected over the next decade.
These increases in spending and workers will, no doubt, usher in yet another stage in the evolution of the sector. As it does, you can be sure we will be following the reactions of the influencers on these pages, and those following in their steps.